Croda acquires personal care products firm Innovachem for £1.7m

Personal care, health care, and cosmetic ingredients manufacturer Croda International has acquired US-based personal care ingredients firm Innovachem for £1.7m.

Innovachem manufactures personal care ingredients, which are used in hair care product formulations such as conditioners that aim to provide healthy-look to the hair, besides providing smooth, soften and moisturising properties to the skincare products.

The UK-based firm, commenting on the acquisition, said: "The acquisition is an excellent strategic fit for Croda’s personal care business, adding a number of exciting new product lines and technologies to its existing portfolio and enhancing its ability to service customers around the world."

Croda revealed that the acquisition of Innovachem will add two new product lines to its personal care portfolio.

The products include Panthequat conditioner and the Liquiwax range of cosmetic esters.

Panthequat is a quaternised panthenol conditioner, which offers the benefits of Provitamin B-5 (panthenol) for healthy-looking, shiny, and manageable hair and smooth, soft, moisturized skin, along with the substantivity imparted by a long chain quaternary.

The firm said the Liquiwax range consists of multifunctional emollient esters, which possesses skin conditioning properties such as softening and lubrication, besides improved barrier function for better moisturisation benefits.

Croda president Kevin Gallagher told the website happi.com that the firm’s acquisition of Innovachem was a good move.

"Their patented ingredients dovetail nicely into our existing framework of focusing on multifunctional, patented materials that provide a unique benefit to our customers and, ultimately, the consumer. We are excited about the acquisition and the ability it will provide to us to better service our customers around the world," Gallagher added.

The acquisition was finalised on 20 December 2012, and the transition is expected to take place during the first half of 2013.